Go Fashion almost doubles IPO investors’ money on listing day

• Shares of Go Fashion list at ₹1,316 while the shares were allotted at ₹690 per share.
• The IPO received huge demand from investors as it was subscribed 135.46 times on the last day of the bidding.
• Investors who were allotted the shares of the company made a profit of ₹13,146 in one IPO lot at 90% gains.
• The market capitalisation of the company stood at ₹7,107 crore.

Shares of Go Fashion, one of the largest women's bottom-wear brands in India that sells under the brand name Go Colors, made a dazzling listing on the National Stock Exchange (NSE) and BSE at 90% premium over the issue price of ₹690 apiece.

Post-listing, the market capitalisation of the company stood at ₹7,107 crore, according to BSE data.

The shares of Go Fashion were trading at ₹1,248, higher by 80% at 10.01 a.m., on November 30.

The listing gains of ₹626 is much more than the grey market premium which indicated a premium of ₹450 per share.

The IPO was open between November 17 and November 22 ⁠and was oversubscribed 135.46 times by investors.

Go Fashion is engaged in the development, design, sourcing, marketing and retailing a range of women's bottom-wear products under the brand, 'Go Colors'. TCNS offers women’s top-wear, bottom-wear, drapes, combination sets and accessories under three major brands W, Aurelia & Wishful W.

Analysts were bullish on the prospects for Go Fashion’s future expansion plans and good market share in branded women’s bottom wear.

Women’s bottom-wear is the fastest-growing category in the women’s apparel segment, and is expected to grow to ₹243 billion by FY25, from ₹135 billion in FY20, says Reliance Securities.

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